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vbtx-20221025

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported): October 25, 2022

VERITEX HOLDINGS, INC.

(Exact name of Registrant as specified in its charter)

Texas

001-36682

27-0973566

(State or other jurisdiction of
incorporation or organization)

(Commission File Number)

(I.R.S. Employer
Identification Number)

8214 Westchester Drive, Suite 800

Dallas, Texas 75225

(Address of principal executive offices)

(972) 349-6200

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock, par value $0.01 per share

VBTX

Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).


Emerging growth company			☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02 Results of Operations and Financial Condition

On October 25, 2022, Veritex Holdings, Inc. (the “Company”), the holding company for Veritex Community Bank, a Texas state chartered bank, issued a press release describing its results of operations for the quarter ended September 30, 2022. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

As provided in General Instruction B.2 to Form 8-K, the information furnished in this Item 2.02 (including Exhibit 99.1) of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 7.01 Regulation FD Disclosure

On Wednesday, October 26, 2022, at 8:30 a.m., Central Time, the Company will host an investor conference call and webcast to review its third quarter financial results. The webcast will include a slide presentation that consists of information regarding the Company’s operating and growth strategies and financial performance. The presentation materials will be posted on the Company’s website after the close of the market on Tuesday, October 25, 2022. The presentation materials are attached hereto as Exhibit 99.2 and are incorporated herein by reference.

As provided in General Instruction B.2 to Form 8-K, the information furnished in this Item 7.01 (including Exhibit 99.2) of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 8.01 Other Events

After the close of the market on Tuesday, October 25, 2022, the Company issued a press release announcing the declaration of a quarterly cash dividend of $0.20 per share on its outstanding common stock. The dividend will be paid on or after November 25, 2022 to shareholders of record as of the close of business on November 11, 2022. The press release is attached hereto as Exhibit 99.3 and is incorporated herein by reference.

Forward Looking Statement

This Current Report includes “forward-looking statements”, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on various facts and derived utilizing assumptions, current expectations, estimates and projections and are subject to known and unknown risks, uncertainties and other factors, which change over time and are beyond our control, that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, without limitation, statements relating to the expected payment of Veritex Holdings, Inc.’s (“Veritex”) quarterly cash dividend; the impact of certain changes in Veritex’s accounting policies, standards and interpretations; the effects of the COVID-19 pandemic and actions taken in response thereto; and Veritex’s future financial performance, business and growth strategy, projected plans and objectives, as well as other projections based on macroeconomic and industry trends, which are inherently unreliable due to the multiple factors that impact broader economic and industry trends, and any such variations may be material. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “seeks,” “targets,” “outlooks,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing words. We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Veritex’s Annual Report on Form 10-K for the year ended December 31, 2021 and any updates to those risk factors set forth in Veritex’s Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov. If one or more events related to these or other risks or uncertainties materialize, or if Veritex’s underlying assumptions prove to be incorrect, actual results may differ materially from what Veritex anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. Veritex does not undertake any obligation, and specifically declines any obligation, to supplement, update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, expressed or implied, included in this Current Report are expressly qualified in their entirety by this cautionary statement. This

cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Veritex or persons acting on Veritex’s behalf may issue.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.


Exhibit Number						Description
99.1						Press release, dated October 25, 2022
99.2						Presentation materials
99.3						Press release, dated October 25, 2022
104						Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Veritex Holdings, Inc.

By:						/s/ C. Malcolm Holland, III
						C. Malcolm Holland, III
						Chairman and Chief Executive Officer
Date:						October 25, 2022

Document

Exhibit 99.1

VERITEX HOLDINGS, INC. REPORTS THIRD QUARTER OPERATING RESULTS

Dallas, TX — October 25, 2022 —Veritex Holdings, Inc. (“Veritex”, the “Company”, “we” or “our”) (Nasdaq: VBTX), the holding company for Veritex Community Bank, today announced the results for the quarter ended September 30, 2022.

“The third quarter of 2022 resulted in record dollar earnings for our Company in a resilient Texas market” said President and CEO, C. Malcolm C. Holland, III. “We reported historical financial metrics with 2.2% in pre-tax, pre-provision operating return, 1.5% in return on average assets, return on average tangible common equity of 18% and an efficiency ratio of 44% coupled with continuing improved credit metrics noted by a 14 bp decrease in nonperforming assets. We remain focused on this positive momentum and deposit growth but more importantly our customers, the strong markets we serve and our shareholders”


	Quarter to Date						Year to Date
Financial Highlights	Q3 2022			Q2 2022				Q3 2022			Q3 2021
	(Dollars in thousands, except per share data) (unaudited)
GAAP
Net income	$	43,322		$	29,626			$	106,418		$	98,078
Diluted EPS	0.79			0.54				1.98			1.95
Book value per common share	26.15			26.50				26.15			26.09
Return on average assets2	1.50		%	1.11		%		1.33		%	1.42		%
Efficiency ratio	44.71			50.76				49.05			49.79
Return on average equity2	11.82			8.21				10.02			10.43
Non-GAAP1
Operating earnings	$	43,625		$	29,855			$	107,494		$	97,237
Diluted operating EPS	0.80			0.55				2.00			1.94
Tangible book value per common share	17.91			18.20				17.91			17.53
Pre-tax, pre-provision operating earnings	63,454			47,000				152,719			122,565
Pre-tax, pre-provision operating return on average assets2	2.20		%	1.76		%		1.90		%	1.78		%
Operating return on average assets2	1.51			1.12				1.34			1.41
Operating efficiency ratio	44.37			50.45				48.59			49.89
Return on average tangible common equity2	17.82			12.68				15.40			16.70
Operating return on average tangible common equity2	17.94			12.77				15.55			16.57

1 Refer to the section titled “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of these non-generally accepted accounting principles (“”GAAP”) financial measures to their most directly comparable GAAP measures.

2 Annualized ratio.

Other Third Quarter Highlights

•Pre-tax, pre-provision operating return on average assets increased 44 bps from the second quarter of 2022 to 2.20%;

•Net interest margin increased to 3.77%, up 35 basis points from the second quarter of 2022;

•Non-performing assets (“NPAs”) to total assets decreased to 0.26%, or 14 bps from June 30, 2022 and 51 bps from September 30, 2021, respectively;

•Net charge-offs to average loans outstanding was 3 basis points for the third quarter of 2022;

•Total loans held for investment (“LHI”), excluding mortgage warehouse (“MW”) and paycheck protection program (“PPP”) loans, grew $594.6 million, or 30.0% annualized, during the three months ended September 30, 2022 from $8.5 billion at the end of the second quarter of 2022;

•Total deposits grew $230.7 million, or 10.8% annualized, during the three months ended September 30, 2022 from $8.5 billion at the end of the second quarter of 2022; and

•Declared quarterly cash dividend of $0.20 per share of outstanding common stock payable on November 25, 2022.

Results of Operations for the Three Months Ended September 30, 2022

Net Interest Income

For the three months ended September 30, 2022, net interest income before provision for credit losses was $101.0 million and net interest margin was 3.77% compared to $84.5 million and 3.42%, respectively, for the three months ended June 30, 2022. The $16.6 million increase in net interest income before provision for credit losses was primarily due to a $27.0 million increase in interest income on loans driven by an increase in average balances and loan yields during the three months ended September 30, 2022. Net interest margin increased 35 basis points compared to the three months ended June 30, 2022, primarily due to the increase in yields earned on loans during three months ended September 30, 2022, partially offset by an increase in funding costs.

Compared to the three months ended September 30, 2021, net interest income before provision for credit losses for the three months ended September 30, 2022 increased by $29.8 million, or 41.8%. The increase was primarily due to a $38.1 million increase in interest income on loans driven by an increase in average balances and loan yields. Net interest margin increased 51 basis points to 3.77% for the three months ended September 30, 2022 from 3.26% for the three months ended September 30, 2021. The increase was primarily due to the increase in average balances and loan yields during the three months ended September 30, 2022, partially offset by an increase in funding costs.

Noninterest Income

Noninterest income for the three months ended September 30, 2022 was $13.0 million, an increase of $2.6 million, or 25.5%, compared to the three months ended June 30, 2022. The increase was primarily due to a $2.0 million increase in customer swap income and a $2.2 million increase in the fair value of the servicing asset, partially offset by a $2.0 million decrease in equity method investment income.

Compared to the three months ended September 30, 2021, noninterest income for the three months ended September 30, 2022 decreased by $2.6 million, or 16.7%. The decrease was primarily due to a $5.6 million decrease in equity method investment income, partially offset by a $2.3 million increase in customer swap income and a $1.0 million increase in loan fees.

Noninterest Expense

Noninterest expense was $51.0 million for the three months ended September 30, 2022, compared to $48.2 million for the three months ended June 30, 2022, an increase of $2.8 million, or 5.9%. This increase was primarily due to a $2.7 million increase in salaries and employee benefits from continued investment in talent.

Compared to the three months ended September 30, 2021, noninterest expense for the three months ended September 30, 2022 increased by $9.7 million, or 23.4%. The increase was primarily driven by a $6.8 million increase in salaries and employee benefits as a result of a $4.1 million increase in salaries and employee benefits from continued investment in talent.

Financial Condition

Total LHI, excluding MW and PPP loans, were $8.5 billion at September 30, 2022, an increase of $594.6 million, or 30.0% annualized, compared to June 30, 2022. The increase was the result of the continued execution, and success of our loan growth strategy, including our continued investment in talent.

Total deposits were $8.7 billion at September 30, 2022, an increase of $230.7 million, or 10.8% annualized, compared to June 30, 2022. The increase was primarily the result of an increase of $262.4 million in interest-bearing transaction and savings deposits and an increase of $104.7 million in certificates and other time deposits, partially offset by a $136.4 million decrease in non-interest bearing deposits.

Credit Quality

Nonperforming assets totaled $30.6 million, or 0.26% of total assets at September 30, 2022, compared to $45.0 million, or 0.40% of total assets, at June 30, 2022. The Company had net charge-offs of $2.2 million for the quarter, which were fully reserved against in prior quarters under our allowance for credit loss (“ACL”) model.

The Company recorded a provision for credit losses of $6.7 million for the three months ended September 30, 2022, a $9.0 million provision for credit losses for the three months ended June 30, 2022 and no provision for credit losses for the three months ended September 30, 2021. The recorded provision for credit losses for the three months ended September 30, 2022, compared to the three months ended June 30, 2022, was primarily attributable to an increase in general reserves as a result of changes in economic factors and loan growth. For the three months ended September 30, 2022, we recorded an $850 thousand provision for unfunded commitments, which was attributable to changes in economic factors and an increase of unfunded balances. ACL as a percentage of LHI, excluding MW and PPP loans, was 1.00%, 1.02% and 1.42% at September 30, 2022, June 30, 2022 and September 30, 2021, respectively.

Dividend Information

After the close of the market on Tuesday, October 25, 2022, Veritex’s Board of Directors declared a quarterly cash dividend of $0.20 per share on its outstanding shares of common stock. The dividend will be paid on or after November 25, 2022 to stockholders of record as of the close of business on November 11, 2022.

Non-GAAP Financial Measures

Veritex’s management uses certain non-GAAP (U.S. generally accepted accounting principles) financial measures to evaluate its operating performance and provide information that is important to investors. However, non-GAAP financial measures are supplemental and should be viewed in addition to, and not as an alternative for, Veritex’s reported results prepared in accordance with GAAP. Specifically, Veritex reviews and reports tangible book value per common share, operating earnings, tangible common equity to tangible assets, return on average tangible common equity, pre-tax, pre-provision operating earnings, pre-tax, pre-provision operating return on average assets, diluted operating earnings per share, operating return on average assets, operating return on average tangible common equity and operating efficiency ratio. Veritex has included in this earnings release information related to these non-GAAP financial measures for the applicable periods presented. Please refer to “Reconciliation of Non-GAAP Financial Measures” after the financial highlights at the end of this earnings release for a reconciliation of these non-GAAP financial measures.

Conference Call

The Company will host an investor conference call and webcast to review the results on Wednesday, October 26, 2022, at 8:30 a.m. Central Time. Participants may pre-register for the call by visiting https://edge.media-server.com/mmc/p/w5hrkf8v and will receive a unique PIN, which can be used when dialing in for the call.

Participants may also register via teleconference at:

https://register.vevent.com/register/BIcf08415eefb54948a6cdbc60349b8e55. Once registration is completed, participants will be provided with a dial-in number containing a personalized conference code to access the call. All participants are instructed to dial-in 15 minutes prior to the start time.

A replay will be available within approximately two hours after the completion of the call, and made accessible for one week. You may access the replay via webcast through the investor relations section of Veritex’s website.

About Veritex Holdings, Inc.

Headquartered in Dallas, Texas, Veritex is a bank holding company that conducts banking activities through its wholly owned subsidiary, Veritex Community Bank, with locations throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank is a Texas state chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System. For more information, visit www.veritexbank.com.

Media and Investor Relations:

investorrelations@veritexbank.com

Forward-Looking Statements

This earnings release includes “forward-looking statements”, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on various facts and derived utilizing assumptions, current expectations, estimates and projections and are subject to known and unknown risks, uncertainties and other factors, which change over time and are beyond our control, that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, without limitation, statements relating to the expected payment of Veritex Holdings, Inc.’s (“Veritex”) quarterly cash dividend; the impact of certain changes in Veritex’s accounting policies, standards and interpretations; the effects of the COVID-19 pandemic and actions taken in response thereto; and Veritex’s future financial performance, business and growth strategy, projected plans and objectives, as well as other projections based on macroeconomic and industry trends, which are inherently unreliable due to the multiple factors that impact broader economic and industry trends, and any such variations may be material. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “seeks,” “targets,” “outlooks,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing words. We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Veritex’s Annual Report on Form 10-K for the year ended December 31, 2021 and any updates to those risk factors set forth in Veritex’s Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov. If one or more events related to these or other risks or uncertainties materialize, or if Veritex’s underlying assumptions prove to be incorrect, actual results may differ materially from what Veritex anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. Veritex does not undertake any obligation, and specifically declines any obligation, to supplement, update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, expressed or implied, included in this earnings release are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Veritex or persons acting on Veritex’s behalf may issue.

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(Unaudited)


	For the Quarter Ended															For the Nine Months Ended
	Sep 30, 2022			Jun 30, 2022			Mar 31, 2022			Dec 31, 2021			Sep 30, 2021			Sep 30, 2022			Sep 30, 2021
	(Dollars and shares in thousands)
Per Share Data (Common Stock):
Basic EPS	$	0.80		$	0.55		$	0.66		$	0.84		$	0.75		$	2.01		$	1.98
Diluted EPS	0.79			0.54			0.65			0.82			0.73			1.98			1.95
Book value per common share	26.15			26.50			26.86			26.64			26.09			26.15			26.09
Tangible book value per common share1	17.91			18.20			18.51			17.49			17.53			17.91			17.53
Dividends paid per common share outstanding2	0.20			0.20			0.20			0.20			0.20			0.60			0.57

Common Stock Data:
Shares outstanding at period end	53,988			53,951			53,907			49,372			49,229			53,988			49,229
Weighted average basic shares outstanding for the period	53,979			53,949			50,695			49,329			49,423			52,886			49,431
Weighted average diluted shares outstanding for the period	54,633			54,646			51,571			50,441			50,306			53,655			50,230

Summary of Credit Ratios:
ACL to total LHI, excluding MW and PPP loans	1.00		%	1.02		%	1.02		%	1.15		%	1.42		%	1.00		%	1.42		%
NPAs to total assets	0.26			0.40			0.46			0.51			0.77			0.26			0.77
Net charge-offs to average loans outstanding	0.03			0.01			0.07			0.19			0.09			0.10			0.18

Summary Performance Ratios:
Return on average assets3	1.50			1.11			1.36			1.68			1.56			1.33			1.42
Return on average equity3	11.82			8.21			10.00			12.65			11.32			10.02			10.43
Return on average tangible common equity1, 3	17.82			12.68			15.84			20.06			17.72			15.40			16.70
Efficiency ratio	44.71			50.76			52.84			48.53			47.55			49.05			49.79
Net interest margin	3.77			3.42			3.22			3.37			3.26			3.48			3.20

Selected Performance Metrics - Operating:
Diluted operating EPS1	$	0.80		$	0.55		$	0.66		$	0.84		$	0.70		$	2.00		$	1.94
Pre-tax, pre-provision operating return on average assets1, 2	2.20		%	1.76		%	1.71		%	1.97		%	1.85		%	1.90		%	1.78		%
Operating return on average assets1, 3	1.51			1.12			1.38			1.72			1.48			1.34			1.41
Operating return on average tangible common equity1, 3	17.94			12.77			16.08			20.48			16.92			15.55			16.57
Operating efficiency ratio1	44.37			50.45			52.05			47.64			48.51			48.59			49.89

Veritex Holdings, Inc. Capital Ratios:
Average stockholders' equity to average total assets	12.69		%	13.51		%	13.58		%	13.30		%	13.75		%	13.23		%	13.63		%
Tangible common equity to tangible assets1	8.58			9.04			9.98			9.28			9.43			8.58			9.43
Tier 1 capital to average assets (leverage)	9.79			10.14			10.66			9.05			9.54			9.79			9.54
Common equity tier 1 capital	9.09			9.25			9.84			8.58			8.75			9.09			8.75
Tier 1 capital to risk-weighted assets	9.35			9.52			10.14			8.89			9.06			9.35			9.06
Total capital to risk-weighted assets	11.68			11.95			12.73			11.60			12.31			11.68			12.31

1Refer to the section titled “Reconciliation of Non-GAAP Financial Measures” after the financial highlights for a reconciliation of these non-GAAP financial measures to their most directly comparable GAAP measures.

2Dividend amount represents dividend paid per common share subsequent to each respective quarter end.

3Annualized ratio for quarterly metrics.

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(In thousands)


	Sep 30, 2022		Jun 30, 2022		Mar 31, 2022		Dec 31, 2021		Sep 30, 2021
	(unaudited)		(unaudited)		(unaudited)				(unaudited)
ASSETS
Cash and cash equivalents	$	433,897	$	410,716	$	551,573	$	379,784	$	229,712
Debt securities	1,303,004		1,354,403		1,244,514		1,052,494		1,103,745
Other investments	115,551		202,685		188,699		190,591		191,786

Loans held for sale	17,644		14,210		18,721		26,007		18,896
LHI, PPP loans, carried at fair value	2,821		7,339		18,512		53,369		135,842
LHI, MW	523,805		629,291		542,877		565,645		615,045
LHI, excluding MW and PPP	8,510,433		7,915,792		7,125,429		6,766,009		6,615,905
Total loans	9,054,703		8,566,632		7,705,539		7,411,030		7,385,688
ACL	(85,037)		(80,576)		(72,485)		(77,754)		(93,771)
Bank-owned life insurance	84,030		84,097		83,641		83,194		83,781
Bank premises, furniture and equipment, net	108,720		108,769		109,138		109,271		116,063
Other real estate owned (“OREO”)	—		1,032		1,062		—		—
Intangible assets, net of accumulated amortization	56,238		59,011		63,986		66,017		54,682
Goodwill	404,452		404,452		404,452		403,771		370,840
Other assets	238,896		193,590		173,561		138,851		129,774
Total assets	$	11,714,454	$	11,304,811	$	10,453,680	$	9,757,249	$	9,572,300
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Noninterest-bearing deposits	$	2,811,412	$	2,947,830	$	2,765,895	$	2,510,723	$	2,302,925
Interest-bearing transaction and savings deposits	4,269,668		4,007,250		3,688,292		3,276,312		3,228,306
Certificates and other time deposits	1,667,364		1,562,626		1,435,409		1,576,580		1,647,521
Total deposits	8,748,444		8,517,706		7,889,596		7,363,615		7,178,752
Accounts payable and other liabilities	173,198		126,116		105,552		69,160		66,571
Advances from Federal Home Loan Bank (“FHLB”)	1,150,000		1,000,000		777,522		777,562		777,601
Subordinated debentures and subordinated notes	228,524		228,272		228,018		227,764		262,761
Securities sold under agreements to repurchase	2,389		3,275		4,996		4,069		2,455
Total liabilities	10,302,555		9,875,369		9,005,684		8,442,170		8,288,140
Commitments and contingencies
Stockholders’ equity:
Common stock	606		606		605		560		559
Additional paid-in capital	1,303,171		1,300,170		1,297,161		1,142,758		1,137,889
Retained earnings	350,195		317,664		298,830		275,273		243,633

Accumulated other comprehensive (loss) income	(74,491)		(21,416)		18,982		64,070		69,661
Treasury stock	(167,582)		(167,582)		(167,582)		(167,582)		(167,582)
Total stockholders’ equity	1,411,899		1,429,442		1,447,996		1,315,079		1,284,160
Total liabilities and stockholders’ equity	$	11,714,454	$	11,304,811	$	10,453,680	$	9,757,249	$	9,572,300

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(In thousands, except per share data)


	For the Quarter Ended										For the Nine Months Ended
	Sep 30, 2022		Jun 30, 2022		Mar 31, 2022		Dec 31, 2021		Sep 30, 2021		Sep 30, 2022		Sep 30, 2021
Interest income:
Loans, including fees	$	109,199	$	82,191	$	71,443	$	74,174	$	71,139	$	262,833	$	206,352
Debt securities	10,462		9,632		7,762		9,553		7,613		27,856		22,579
Deposits in financial institutions and Fed Funds sold	1,898		714		262		165		130		2,874		424
Equity securities and other investments	1,666		1,057		910		1,004		898		3,633		2,233
Total interest income	123,225		93,594		80,377		84,896		79,780		297,196		231,588
Interest expense:
Transaction and savings deposits	12,897		4,094		1,751		1,629		1,588		18,742		5,229
Certificates and other time deposits	3,919		1,465		1,380		1,661		1,934		6,764		7,418
Advances from FHLB	2,543		834		1,547		1,847		1,848		4,924		5,489
Subordinated debentures and subordinated notes	2,826		2,721		2,659		3,018		3,134		8,206		9,410
Total interest expense	22,185		9,114		7,337		8,155		8,504		38,636		27,546
Net interest income	101,040		84,480		73,040		76,741		71,276		258,560		204,042
Provision (benefit) for credit losses	6,650		9,000		(500)		(3,349)		—		15,150		—
Provision (benefit) for unfunded commitments	850		—		493		(1,040)		(448)		1,343		(441)
Net interest income after provisions	93,540		75,480		73,047		81,130		71,724		242,067		204,483
Noninterest income:
Service charges and fees on deposit accounts	5,217		5,039		4,710		4,782		4,484		14,966		11,960
Loan fees	2,786		2,385		2,794		2,697		1,746		7,965		4,910
Loss on sales of investment securities	—		—		—		—		(188)		—		(188)
Gain on sales of mortgage loans held for sale	16		223		307		293		407		546		1,299
Government guaranteed loan income, net	572		789		4,891		3,423		2,341		6,252		12,337
Equity method investment (loss) income	(1,058)		966		367		1,238		4,522		275		4,522
Customer swap income	3,358		1,321		946		796		1,093		5,625		1,694
Other income (loss)	2,130		(345)		1,082		2,921		1,222		2,867		5,721
Total noninterest income	13,021		10,378		15,097		16,150		15,627		38,496		42,255
Noninterest expense:
Salaries and employee benefits	29,714		26,924		27,513		25,401		22,964		84,151		69,347
Occupancy and equipment	4,615		4,496		4,517		4,398		4,536		13,628		12,865
Professional and regulatory fees	3,718		2,865		3,158		3,017		3,401		9,741		9,928
Data processing and software expense	3,509		3,386		2,921		2,597		2,494		9,816		7,349
Marketing	1,845		2,306		1,187		1,443		1,151		5,338		3,901
Amortization of intangibles	2,494		2,495		2,495		2,494		2,509		7,484		7,563
Telephone and communications	389		352		385		380		380		1,126		1,054
Merger and acquisition (“M&A”) expense	384		295		700		826		—		1,379		—


Other	4,323		5,034		3,696		4,521		3,886		13,053		10,628
Total noninterest expense	50,991		48,153		46,572		45,077		41,321		145,716		122,635
Income before income tax expense	55,570		37,705		41,572		52,203		46,030		134,847		124,103
Income tax expense	12,248		8,079		8,102		10,697		9,195		28,429		26,025
Net income	$	43,322	$	29,626	$	33,470	$	41,506	$	36,835	$	106,418	$	98,078

Net income available to common stockholders	$	43,322	$	29,626	$	33,470	$	41,506	$	36,835	$	106,418	$	98,078

Basic EPS	$	0.80	$	0.55	$	0.66	$	0.84	$	0.75	$	2.01	$	1.98
Diluted EPS	$	0.79	$	0.54	$	0.65	$	0.82	$	0.73	$	1.98	$	1.95
Weighted average basic shares outstanding	53,979		53,949		50,695		49,329		49,423		52,886		49,431
Weighted average diluted shares outstanding	54,633		54,646		51,571		50,441		50,306		53,655		50,230

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(Unaudited)


	For the Quarter Ended
	September 30, 2022						June 30, 2022						September 30, 2021
	Average Outstanding Balance		Interest Earned/ Interest Paid		Average Yield/ Rate		Average Outstanding Balance		Interest Earned/ Interest Paid		Average Yield/ Rate		Average Outstanding Balance		Interest Earned/ Interest Paid		Average Yield/ Rate
	(In thousands, except percentages)
Assets
Interest-earning assets:
Loans1	$	8,277,762	$	104,543	5.01	%	$	7,547,564	$	78,234	4.16	%	$	6,384,856	$	66,911	4.16	%
LHI, MW	448,556		4,649		4.11		479,187		3,929		3.29		465,945		3,697		3.15
PPP loans	2,775		7		1.00		11,402		28		1.00		210,092		531		1.00
Debt securities	1,362,365		10,462		3.05		1,318,502		9,632		2.93		1,119,952		7,613		2.70
Interest-bearing deposits in other banks	346,296		1,898		2.17		369,847		714		0.77		336,289		130		0.15
Equity securities and other investments	203,528		1,666		3.25		167,327		1,057		2.53		167,242		898		2.13
Total interest-earning assets	10,641,282		123,225		4.59		9,893,829		93,594		3.79		8,684,376		79,780		3.64
ACL	(81,888)						(74,268)						(99,482)
Noninterest-earning assets	901,463						892,102						800,576
Total assets	$	11,460,857					$	10,711,663					$	9,385,470

Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand and savings deposits	$	4,164,164	$	12,897	1.23	%	$	3,770,098	$	4,094	0.44	%	$	3,201,409	$	1,588	0.20	%
Certificates and other time deposits	1,656,347		3,919		0.94		1,459,690		1,465		0.40		1,519,824		1,934		0.50
Advances from FHLB	904,065		2,543		1.12		828,769		834		0.40		777,617		1,848		0.94
Subordinated debentures and subordinated notes	231,012		2,826		4.85		232,043		2,721		4.70		264,714		3,134		4.70
Total interest-bearing liabilities	6,955,588		22,185		1.27		6,290,600		9,114		0.58		5,763,564		8,504		0.59

Noninterest-bearing liabilities:
Noninterest-bearing deposits	2,925,462						2,870,692						2,271,197
Other liabilities	125,991						102,994						60,181
Total liabilities	10,007,041						9,264,286						8,094,942
Stockholders’ equity	1,453,816						1,447,377						1,290,528
Total liabilities and stockholders’ equity	$	11,460,857					$	10,711,663					$	9,385,470

Net interest rate spread2					3.32	%					3.21	%					3.05	%
Net interest income and margin3			101,040		3.77	%			84,480		3.42	%			71,276		3.26	%

1 Includes average outstanding balances of loans held for sale of $14,023, $12,112 and $8,542 for the three months ended September 30, 2022, June 30, 2022, and September 30, 2021, respectively, and average balances of LHI, excluding MW and PPP loans.

2 Net interest rate spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities.

3 Net interest margin is equal to net interest income divided by average interest-earning assets.

VERITEX HOLDINGS, INC. AND SUBSIDIARY

Financial Highlights

(In thousands except percentages)


	Nine Months Ended
	September 30, 2022						September 30, 2021
	Average Outstanding Balance		Interest Earned/ Interest Paid		Average Yield/ Rate		Average Outstanding Balance		Interest Earned/ Interest Paid		Average Yield/ Rate
Assets
Interest-earning assets:
Loans1	$	7,558,825	$	255,630	4.52	%	$	6,118,880	$	193,040	4.22	%
LHI, WH	449,906		6,998		2.08		477,319		10,988		3.08
PPP loans	27,477		205		1.00		309,620		2,324		1.00
Debt securities	1,274,712		27,856		2.92		1,093,263		22,579		2.76
Interest-bearing deposits in other banks	422,905		2,874		0.91		408,601		424		0.14
Equity securities and other investments	187,002		3,633		2.60		114,237		2,233		2.61
Total interest-earning assets	9,920,827		297,196		4.01		8,521,920		231,588		3.63
ACL	(78,015)						(103,478)
Noninterest-earning assets	886,357						799,207
Total assets	$	10,729,169					$	9,217,649

Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand and savings deposits	$	3,804,506	$	18,742	0.66	%	$	3,144,395	$	5,229	0.22	%
Certificates and other time deposits	1,539,861		6,764		0.59		1,514,954		7,418		0.65
Advances from FHLB	837,254		4,924		0.79		777,655		5,489		0.94
Subordinated debentures and subordinated notes	231,640		8,206		4.74		264,998		9,410		4.75
Total interest-bearing liabilities	6,413,261		38,636		0.81		5,702,002		27,546		0.65

Noninterest-bearing liabilities:
Noninterest-bearing deposits	2,797,110						2,198,551
Other liabilities	98,898						60,456
Total liabilities	9,309,269						7,961,009
Stockholders’ equity	1,419,900						1,256,640
Total liabilities and stockholders’ equity	$	10,729,169					$	9,217,649

Net interest rate spread2					3.20	%					2.98	%
Net interest income and margin3			$	258,560	3.48	%			$	204,042	3.20	%

1 Includes average outstanding balances of loans held for sale of $12,973 and $13,140 for the nine months ended September 30, 2022 and 2021, respectively, and average balances of LHI, excluding MW and PPP loans.

2 Net interest rate spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities.

3 Net interest margin is equal to net interest income divided by average interest-earning assets.

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

Yield Trend


	For the Quarter Ended
	Sep 30, 2022		Jun 30, 2022		Mar 31, 2022		Dec 31, 2021		Sep 30, 2021
Average yield on interest-earning assets:
Loans1	5.01	%	4.16	%	4.03	%	4.12	%	4.16	%
LHI, MW	4.11		3.29		2.95		2.98		3.15
PPP loans	1.00		1.00		1.00		1.00		1.00
Debt securities	3.05		2.93		2.76		3.47		2.70
Interest-bearing deposits in other banks	2.17		0.77		0.19		0.16		0.15
Equity securities and other investments	3.25		2.53		1.94		2.09		2.13
Total interest-earning assets	4.59	%	3.79	%	3.54	%	3.72	%	3.64	%

Average rate on interest-bearing liabilities:
Interest-bearing demand and savings deposits	1.23	%	0.44	%	0.20	%	0.19	%	0.20	%
Certificates and other time deposits	0.94		0.40		0.37		0.41		0.50
Advances from FHLB	1.12		0.40		0.81		0.94		0.94
Subordinated debentures and subordinated notes	4.85		4.70		4.65		4.62		4.70
Total interest-bearing liabilities	1.27	%	0.58	%	0.50	%	0.54	%	0.59	%

Net interest rate spread2	3.32	%	3.21	%	3.04	%	3.18	%	3.05	%
Net interest margin3	3.77	%	3.42	%	3.22	%	3.37	%	3.26	%

1Includes average outstanding balances of loans held for sale of $14,023, $12,112, $12,769, $8,987 and $8,542 for the three months ended September 30, 2022, June 30, 2022, March 31, 2022, December 31, 2021 and September 30, 2021, respectively, and average balances of LHI, excluding MW and PPP loans.

2 Net interest rate spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities.

3 Net interest margin is equal to net interest income divided by average interest-earning assets.

Supplemental Yield Trend


	For the Quarter Ended
	Sep 30, 2022		Jun 30, 2022		Mar 31, 2022		Dec 31, 2021		Sep 30, 2021
Average cost of interest-bearing deposits	1.15	%	0.43	%	0.26	%	0.26	%	0.30	%
Average costs of total deposits, including noninterest-bearing	0.76		0.28		0.17		0.18		0.20

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(Unaudited)

LHI and Deposit Portfolio Composition


	Sep 30, 2022					Jun 30, 2022					Mar 31, 2022					Dec 31, 2021					Sep 30, 2021
	(In thousands, except percentages)
LHI1

Commercial	$	2,740,948		32.1	%	$	2,450,403		30.9	%	$	2,125,900		29.8	%	$	2,006,876		29.6	%	$	1,793,740		27.1	%

Real Estate:
Owner occupied commercial (“OOCRE”)	677,705			7.9		646,723			8.2		633,615			8.9		665,537			9.8		711,476			10.7
Non-owner occupied commercial (“NOOCRE”)	2,273,305			26.7		2,203,970			27.8		2,145,826			30.0		2,120,309			31.3		2,194,438			33.1
Construction and land	1,673,997			19.6		1,532,997			19.3		1,297,338			18.2		1,062,144			15.7		936,174			14.1
Farmland	43,569			0.5		47,319			0.6		48,095			0.7		55,827			0.8		73,550			1.1
1-4 family residential	858,693			10.1		765,260			9.6		604,408			8.5		542,566			8.0		543,518			8.2
Multi-family residential	252,244			3.0		276,632			3.5		272,250			3.8		310,241			4.6		356,885			5.4
Consumer	7,465			0.1		7,520			0.1		9,533			0.1		11,998			0.2		14,266			0.3
Total LHI	$	8,527,926		100	%	$	7,930,824		100	%	$	7,136,965		100	%	$	6,775,498		100	%	$	6,624,047		100	%

MW	523,805					629,291					542,877					565,645					615,045
PPP loans	2,821					7,339					18,512					53,369					135,842

Total LHI1	$	9,054,552				$	8,567,454				$	7,698,354				$	7,394,512				$	7,374,934

Deposits
Noninterest-bearing	$	2,811,412		32.1	%	$	2,947,830		34.6	%	$	2,765,895		35.1	%	$	2,510,723		34.1	%	$	2,302,925		32.1	%
Interest-bearing transaction	603,729			6.9		660,557			7.8		599,580			7.6		579,408			7.9		514,537			7.2
Money market	3,533,532			40.4		3,217,195			37.8		2,958,790			37.5		2,568,843			34.9		2,585,926			36.0
Savings	132,407			1.5		129,498			1.5		129,922			1.6		128,061			1.7		127,843			1.8
Certificates and other time deposits	1,667,364			19.1		1,562,626			18.3		1,435,409			18.2		1,576,580			21.4		1,647,521			22.9
Total deposits	$	8,748,444		100	%	$	8,517,706		100	%	$	7,889,596		100	%	$	7,363,615		100	%	$	7,178,752		100	%

Loan to Deposit Ratio	103.5		%			100.6		%			97.6		%			100.4		%			102.7		%

Loan to Deposit Ratio, excluding MW and PPP loans	97.5		%			93.1		%			90.5		%			92.0		%			92.3		%

1 Total LHI does not include deferred fees of $17.5 million, $15.0 million, $11.5 million, $9.5 million and $8.1 million at September 30, 2022, June 30, 2022, March 31, 2022, December 31, 2021 and September 30, 2021, respectively.

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Financial Highlights

(Unaudited)

Asset Quality


	For the Quarter Ended															For the Nine Months Ended
	Sep 30, 2022			Jun 30, 2022			Mar 31, 2022			Dec 31, 2021			Sep 30, 2021			Sep 30, 2022			Sep 30, 2021
	(In thousands, except percentages)
NPAs:
Nonaccrual loans	$	30,592		$	42,242		$	46,680		$	49,687		$	72,317		$	30,592		$	72,317
Accruing loans 90 or more days past due1	—			1,753			264			441			1,711			—			1,711
Total nonperforming loans held for investment (“NPLs”)	30,592			43,995			46,944			50,128			74,028			30,592			74,028
OREO	—			1,032			1,062			—			—			—			—
Total NPAs	$	30,592		$	45,027		$	48,006		$	50,128		$	74,028		$	30,592		$	74,028

Charge-offs:
1-4 family residential	$	—		$	—		$	—		$	—		$	(64)		$	—		$	(379)
OOCRE	(1,061)			(244)			(1,341)			(898)			(813)			(2,646)			(1,502)
NOOCRE	(838)			—			(553)			(7,936)			—			(1,391)			—
Commercial	(460)			(528)			(3,294)			(4,114)			(5,508)			(4,282)			(11,462)
Consumer	(19)			(1,091)			(134)			(44)			(17)			(1,244)			(55)
Total charge-offs	(2,378)			(1,863)			(5,322)			(12,992)			(6,402)			(9,563)			(13,398)

Recoveries:
1-4 family residential	4			3			—			6			26			7			58
OOCRE	—			245			—			—			—			245			500
NOOCRE	3			93			400			—			—			496			—
Commercial	177			572			144			61			596			893			1,481
Consumer	5			41			9			257			8			55			46
Total recoveries	189			954			553			324			630			1,696			2,085

Net charge-offs	$	(2,189)		$	(909)		$	(4,769)		$	(12,668)		$	(5,772)		$	(7,867)		$	(11,313)



ACL	$	85,037		$	80,576		$	72,485		$	77,754		$	93,771		$	85,037		$	93,771



Asset Quality Ratios:
NPAs to total assets	0.26		%	0.40		%	0.46		%	0.51		%	0.77		%	0.26		%	0.77		%
NPLs to total LHI, excluding MW and PPP loans	0.36			0.55			0.66			0.74			1.12			0.36			1.12
ACL to total LHI, excluding MW and PPP loans	1.00			1.02			1.02			1.15			1.42			1.00			1.42
Net charge-offs to average loans outstanding	0.03			0.01			0.07			0.19			0.09			0.10			0.18

1 Accruing loans greater than 90 days past due exclude purchase credit deteriorated loans greater than 90 days past due that are accounted for on a pooled basis.

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

We identify certain financial measures discussed in this earnings release as being “non-GAAP financial measures.” In accordance with SEC rules, we classify a financial measure as being a non-GAAP financial measure if that financial measure excludes or includes amounts, or is subject to adjustments that have the effect of excluding or including amounts, that are included or excluded, as the case may be, in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles as in effect from time to time in the United States (“GAAP”), in our statements of income, balance sheets or statements of cash flows. Non-GAAP financial measures do not include operating and other statistical measures or ratios calculated using exclusively either one or both of (i) financial measures calculated in accordance with GAAP and (ii) operating measures or other measures that are not non-GAAP financial measures.

The non-GAAP financial measures that we present in this earnings release should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which we calculate the non-GAAP financial measures that we present in this earnings release may differ from that of other companies reporting measures with similar names. You should understand how such other financial institutions calculate their financial measures that appear to be similar or have similar names to the non-GAAP financial measures we have discussed in this earnings release when comparing such non-GAAP financial measures.

Tangible Book Value Per Common Share. Tangible book value is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. We calculate: (a) tangible common equity as total stockholders’ equity less goodwill and core deposit intangibles, net of accumulated amortization; and (b) tangible book value per common share as tangible common equity (as described in clause (a)) divided by number of common shares outstanding. For tangible book value per common share, the most directly comparable financial measure calculated in accordance with GAAP is book value per common share.

We believe that this measure is important to many investors in the marketplace who are interested in changes from period to period in book value per common share exclusive of changes in core deposit intangibles. Goodwill and other intangible assets have the effect of increasing total book value while not increasing our tangible book value.

The following table reconciles, as of the dates set forth below, total stockholders’ equity to tangible common equity and presents our tangible book value per common share compared with our book value per common share:


	As of
	Sep 30, 2022		Jun 30, 2022		Mar 31, 2022		Dec 31, 2021		Sep 30, 2021
	(Dollars in thousands, except per share data)
Tangible Common Equity
Total stockholders' equity	$	1,411,899	$	1,429,442	$	1,447,996	$	1,315,079	$	1,284,160
Adjustments:
Goodwill	(404,452)		(404,452)		(404,452)		(403,771)		(370,840)
Core deposit intangibles	(40,684)		(43,122)		(45,560)		(47,998)		(50,436)
Tangible common equity	$	966,763	$	981,868	$	997,984	$	863,310	$	862,884
Common shares outstanding	53,988		53,951		53,907		49,372		49,229

Book value per common share	$	26.15	$	26.50	$	26.86	$	26.64	$	26.09
Tangible book value per common share	$	17.91	$	18.20	$	18.51	$	17.49	$	17.53

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

Tangible Common Equity to Tangible Assets. Tangible common equity to tangible assets is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. We calculate: (a) tangible common equity as total stockholders’ equity, less goodwill and core deposit intangibles, net of accumulated amortization; (b) tangible assets as total assets less goodwill and core deposit intangibles, net of accumulated amortization; and (c) tangible common equity to tangible assets as tangible common equity (as described in clause (a)) divided by tangible assets (as described in clause (b)). For tangible common equity to tangible assets, the most directly comparable financial measure calculated in accordance with GAAP is total stockholders’ equity to total assets.

We believe that this measure is important to many investors in the marketplace who are interested in the relative changes from period to period in common equity and total assets, in each case, exclusive of changes in core deposit intangibles. Goodwill and other intangible assets have the effect of increasing both total stockholders’ equity and assets while not increasing our tangible common equity or tangible assets.

The following table reconciles, as of the dates set forth below, total stockholders’ equity to tangible common equity and total assets to tangible assets and presents our tangible common equity to tangible assets:


	As of
	Sep 30, 2022			Jun 30, 2022			Mar 31, 2022			Dec 31, 2021			Sep 30, 2021
	(Dollars in thousands)
Tangible Common Equity
Total stockholders' equity	$	1,411,899		$	1,429,442		$	1,447,996		$	1,315,079		$	1,284,160
Adjustments:
Goodwill	(404,452)			(404,452)			(404,452)			(403,771)			(370,840)
Core deposit intangibles	(40,684)			(43,122)			(45,560)			(47,998)			(50,436)
Tangible common equity	$	966,763		$	981,868		$	997,984		$	863,310		$	862,884
Tangible Assets
Total assets	$	11,714,454		$	11,304,811		$	10,453,680		$	9,757,249		$	9,572,300
Adjustments:
Goodwill	(404,452)			(404,452)			(404,452)			(403,771)			(370,840)
Core deposit intangibles	(40,684)			(43,122)			(45,560)			(47,998)			(50,436)
Tangible Assets	$	11,269,318		$	10,857,237		$	10,003,668		$	9,305,480		$	9,151,024
Tangible Common Equity to Tangible Assets	8.58		%	9.04		%	9.98		%	9.28		%	9.43		%

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

Return on Average Tangible Common Equity. Return on average tangible common equity is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. We calculate: (a) net income available for common stockholders adjusted for amortization of core deposit intangibles (which we refer to as “return”) as net income, plus amortization of core deposit intangibles, less tax benefit at the statutory rate; (b) average tangible common equity as total average stockholders’ equity less average goodwill and average core deposit intangibles, net of accumulated amortization; and (c) return (as described in clause (a)) divided by average tangible common equity (as described in clause (b)). For return on average tangible common equity, the most directly comparable financial measure calculated in accordance with GAAP is return on average equity.

We believe that this measure is important to many investors in the marketplace who are interested in the return on common equity, exclusive of the impact of core deposit intangibles. Goodwill and core deposit intangibles have the effect of increasing total stockholders’ equity while not increasing our tangible common equity. This measure is particularly relevant to acquisitive institutions that may have higher balances in goodwill and core deposit intangibles than non-acquisitive institutions.

The following table reconciles, as of the dates set forth below, average tangible common equity to average common equity and net income available for common stockholders adjusted for amortization of core deposit intangibles, net of taxes to net income and presents our return on average tangible common equity:


	For the Quarter Ended															For the Nine Months Ended
	Sep 30, 2022			Jun 30, 2022			Mar 31, 2022			Dec 31, 2021			Sep 30, 2021			Sep 30, 2022			Sep 30, 2021
	(Dollars in thousands)
Net income available for common stockholders adjusted for amortization of core deposit intangibles
Net income	$	43,322		$	29,626		$	33,470		$	41,506		$	36,835		$	106,418		$	98,078
Adjustments:
Plus: Amortization of core deposit intangibles	2,438			2,438			2,438			2,438			2,438			7,314			7,323
Less: Tax benefit at the statutory rate	512			512			512			512			512			1,536			1,538
Net income available for common stockholders adjusted for amortization of core deposit intangibles	$	45,248		$	31,552		$	35,396		$	43,432		$	38,761		$	112,196		$	103,863

Average Tangible Common Equity
Total average stockholders' equity	$	1,453,816		$	1,447,377		$	1,357,448		$	1,301,676		$	1,290,528		$	1,419,900		$	1,256,640
Adjustments:
Average goodwill	(404,452)			(404,452)			(404,014)			(393,220)			(370,840)			(404,308)			(370,840)
Average core deposit intangibles	(42,230)			(44,720)			(47,158)			(49,596)			(52,043)			(41,470)			(54,458)
Average tangible common equity	$	1,007,134		$	998,205		$	906,276		$	858,860		$	867,645		$	974,122		$	831,342
Return on Average Tangible Common Equity (Annualized)	17.82		%	12.68		%	15.84		%	20.06		%	17.72		%	15.40		%	16.70		%

VERITEX HOLDINGS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

Operating Earnings, Pre-tax, Pre-provision Operating Earnings and performance metrics calculated using Operating Earnings and Pre-tax, Pre-provision Operating Earnings, including Diluted Operating Earnings per Share, Operating Return on Average Assets, Pre-tax, Pre-Provision Operating Return on Average Assets, Operating Return on Average Tangible Common Equity and Operating Efficiency Ratio. Operating earnings, pre-tax, pre-provision operating earnings and the performance metrics calculated using these metrics, listed below, are non-GAAP measures used by management to evaluate the Company’s financial performance. We calculate (a) operating earnings as net income plus severance payments, plus loss on sale of debt securities AFS, net, less Thrive PPP loan forgiveness income, plus M&A expenses, less tax impact of adjustments, plus nonrecurring tax adjustments. We calculate (b) diluted operating earnings per share as operating earnings as described in clause (a) divided by weighted average diluted shares outstanding. We calculate (c) pre-tax, pre-provision operating earnings as operating earnings as described in clause (a) plus provision for income taxes, plus provision (benefit) for credit losses and unfunded commitments. We calculate (d) pre-tax, pre-provision operating return on average assets as pre-tax, pre-provision operating earnings as described in clause (a) divided by total average assets. We calculate (e) operating return on average assets as operating earnings as described in clause (a) divided by total average assets. We calculate (f) operating return on average tangible common equity as operating earnings as described in clause (a), adjusted for the amortization of intangibles and tax benefit at the statutory rate, divided by total average tangible common equity (average stockholders’ equity less average goodwill and average core deposit intangibles, net of accumulated amortization). We calculate (g) operating efficiency ratio as noninterest expense plus adjustments to operating noninterest expense divided by noninterest income plus adjustments to operating noninterest income, plus net interest income.

We believe that these measures and the operating metrics calculated utilizing these measures are important to management and many investors in the marketplace who are interested in understanding the ongoing operating performance of the Company and provide meaningful comparisons to its peers.

The following tables reconcile, as of the dates set forth below, operating net income and pre-tax, pre-provision operating earnings and related metrics:


	For the Quarter Ended										For the Nine Months Ended
	Sep 30, 2022		Jun 30, 2022		Mar 31, 2022		Dec 31, 2021		Sep 30, 2021		Sep 30, 2022		Sep 30, 2021
	(Dollars in thousands, except per share data)
Operating Earnings
Net income	$	43,322	$	29,626	$	33,470	$	41,506	$	36,835	$	106,418	$	98,078

Plus: Severance payments1	—		—		—		—		—		—		627
Plus: Loss on sale of debt securities AFS, net	—		—		—		—		188		—		188

Less: Thrive PPP loan forgiveness income2	—		—		—		—		1,912		—		1,912
Plus: M&A expenses	384		295		700		826		—		1,379		—
Operating pre-tax income	43,706		29,921		34,170		42,332		35,111		107,797		96,981
Less: Tax impact of adjustments	81		66		156		(78)		39		303		170


Plus: Nonrecurring tax adjustments3	—		—		—		—		—		—		426
Operating earnings	$	43,625	$	29,855	$	34,014	$	42,410	$	35,072	$	107,494	$	97,237

Weighted average diluted shares outstanding	54,633		54,646		51,571		50,441		50,306		53,655		50,230
Diluted EPS	$	0.79	$	0.54	$	0.65	$	0.82	$	0.73	$	1.98	$	1.95
Diluted operating EPS	$	0.80	$	0.55	$	0.66	$	0.84	$	0.70	$	2.00	$	1.94

1 Severance payments relate to branch restructurings made during the three months ended June 30, 2021.

2 During the third quarter of 2021, Thrive’s PPP loan with another bank was 100% forgiven by the Small Business Administration. As a result of our 49% investment in Thrive, the $1.9 million represents our portion of the PPP loan forgiveness. PPP fee income is not taxable and as such has no tax impact.

3 A nonrecurring tax adjustment of $426 thousand recorded in the first quarter of 2021 was due to a true-up of a deferred tax liability.


	For the Quarter Ended															For the Nine Months Ended
	Sep 30, 2022			Jun 30, 2022			Mar 31, 2022			Dec 31, 2021			Sep 30, 2021			Sep 30, 2022			Sep 30, 2021
	(Dollars in thousands)
Pre-Tax, Pre-Provision Operating Earnings
Net income	$	43,322		$	29,626		$	33,470		$	41,506		$	36,835		$	106,418		$	98,078
Plus: Provision for income taxes	12,248			8,079			8,102			10,697			9,195			28,429			26,025
Plus: Provision (benefit) for credit losses and unfunded commitments	7,500			9,000			(7)			(4,389)			(448)			16,493			(441)
Plus: Severance payments	—			—			—			—			—			—			627

Plus: Loss on sale of debt securities AFS, net	—			—			—			—			188			—			188
Less: Thrive PPP loan forgiveness income	—			—			—			—			1,912						1,912
Plus: M&A expenses	384			295			700			826			—			1,379			—
Pre-tax, pre-provision operating earnings	$	63,454		$	47,000		$	42,265		$	48,640		$	43,858		$	152,719		$	122,565

Average total assets	$	11,460,857		$	10,711,663		$	9,998,922		$	9,788,671		$	9,385,470		$	10,729,169		$	9,217,649
Pre-tax, pre-provision operating return on average assets1	2.20		%	1.76		%	1.71		%	1.97		%	1.85		%	1.90		%	1.78		%

Average total assets	$	11,460,857		$	10,711,663		$	9,998,922		$	9,788,671		$	9,385,470		$	10,729,169		$	9,217,649
Return on average assets1	1.50		%	1.11		%	1.36		%	1.68		%	1.56		%	1.33		%	1.42		%
Operating return on average assets1	1.51			1.12			1.38			1.72			1.48			1.34			1.41

Operating earnings adjusted for amortization of core deposit intangibles
Operating earnings	$	43,625		$	29,855		$	34,014		$	42,410		$	35,072		$	107,494		$	97,237
Adjustments:
Plus: Amortization of core deposit intangibles	2,438			2,438			2,438			2,438			2,438			7,314			7,323
Less: Tax benefit at the statutory rate	512			512			512			512			512			1,536			1,538
Operating earnings adjusted for amortization of core deposit intangibles	$	45,551		$	31,781		$	35,940		$	44,336		$	36,998		$	113,272		$	103,022

Average Tangible Common Equity
Total average stockholders' equity	$	1,453,816		$	1,447,377		$	1,357,448		$	1,301,676		$	1,290,528		$	1,419,900		$	1,256,640
Adjustments:
Less: Average goodwill	(404,452)			(404,452)			(404,014)			(393,220)			(370,840)			(404,308)			(370,840)
Less: Average core deposit intangibles	(42,230)			(44,720)			(47,158)			(49,596)			(52,043)			(41,470)			(54,458)
Average tangible common equity	$	1,007,134		$	998,205		$	906,276		$	858,860		$	867,645		$	974,122		$	831,342
Operating return on average tangible common equity1	17.94		%	12.77		%	16.08		%	20.48		%	16.92		%	15.55		%	16.57		%

Efficiency ratio	44.71		%	50.76		%	52.84		%	48.53		%	47.55		%	49.05		%	49.79		%

Net interest income	$	101,040		$	84,480		$	73,040		$	76,741		$	71,276		$	258,560		$	204,042
Noninterest income	13,021			10,378			15,097			16,150			15,627			38,496			42,255
Plus: Loss on sale of AFS securities, net	—			—			—			—			188			—			188
Less: Thrive PPP loan forgiveness income	—			—			—			—			1,912			—			1,912
Operating noninterest income	13,021			10,378			15,097			16,150			13,903			38,496			40,531
Noninterest expense	50,991			48,153			46,572			45,077			41,321			145,716			122,635
Less: Severance payments	—			—			—			—			—			—			627
Less: M&A expenses	384			295			700			826			—			1,379			—
Operating noninterest expense	$	50,607		$	47,858		$	45,872		$	44,251		$	41,321		$	144,337		$	122,008
Operating efficiency ratio	44.37		%	50.45		%	52.05		%	47.64		%	48.51		%	48.59		%	49.89		%

1 Annualized ratio for quarterly metrics.

q32022investorpresentati

10/25/2022 110/25/2022 1 TRUTH | INTEGRITY | TRANSPARENCY Third Quarter Exhibit 99.2

2 Safe Harbor and Non-GAAP Measures Forward-looking statements This presentation includes “forward-looking statements”, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on various facts and derived utilizing assumptions, current expectations, estimates and projections and are subject to known and unknown risks, uncertainties and other factors, which change over time and are beyond our control, that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, without limitation, statements relating to the expected payment of Veritex Holdings, Inc.’s (“Veritex”) quarterly cash dividend; the impact of certain changes in Veritex’s accounting policies, standards and interpretations; the effects of the COVID-19 pandemic and actions taken in response thereto; and Veritex’s future financial performance, business and growth strategy, projected plans and objectives, as well as other projections based on macroeconomic and industry trends, which are inherently unreliable due to the multiple factors that impact broader economic and industry trends, and any such variations may be material. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “seeks,” “targets,” “outlooks,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing words. We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Veritex’s Annual Report on Form 10-K for the year ended December 31, 2021 and any updates to those risk factors set forth in Veritex’s Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov. If one or more events related to these or other risks or uncertainties materialize, or if Veritex’s underlying assumptions prove to be incorrect, actual results may differ materially from what Veritex anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. Veritex does not undertake any obligation, and specifically declines any obligation, to supplement, update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, expressed or implied, included in this presentation are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Veritex or persons acting on Veritex’s behalf may issue. This presentation also includes industry and trade association data, forecasts and information that Veritex has prepared based, in part, upon data, forecasts and information obtained from independent trade associations, industry publications and surveys, government agencies and other information publicly available to Veritex, which information may be specific to particular markets or geographic locations. Some data is also based on Veritex's good faith estimates, which are derived from Veritex management's knowledge of the industry, markets and independent sources. Industry publications, surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable. Although Veritex believes these sources are reliable, Veritex has not independently verified the information contained therein. While Veritex is not aware of any misstatements regarding the industry data, forecasts and information included in this presentation, such data forecasts, and information and Veritex's estimates based thereon involve risks, assumptions and uncertainties and are subject to change based on various factors. Veritex does not undertake any obligation, and specifically declines any obligation, to supplement, update or revise such data forecasts, and information and Veritex's estimates based thereon, whether as a result of new information, future developments or otherwise, except as required by law. Non-GAAP Financial Measures This presentation contains certain non-GAAP (generally accepted accounting principles) financial measures, including tangible book value per common share (“TBVPS”), tangible common equity to tangible assets, return on average tangible common equity (“ROATCE”), operating earnings, pre-tax, pre-provision (“PTPP”) operating earnings, diluted operating earnings per shares (“EPS”), operating return on average assets (“ROAA”), PTPP operating ROAA, Operating ROATCE, operating efficiency ratio, operating noninterest income, operating noninterest expense and adjusted net interest margin (“NIM”). Veritex’s management uses these non-GAAP financial measures to evaluate its operating performance and provide information that is important to investors. The non-GAAP financial measures that Veritex discusses in this presentation should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Please see “Reconciliation of Non-GAAP Financial Measures” at the end of this presentation for reconciliations of non-GAAP measures to the most directly comparable financial measures calculated in accordance with GAAP.

3                Truth in Texas Banking Dallas / Ft. Worth Houston (31) Branches $11.7 Billion in assets 2.20% PTPP ROAA 7.0% CAGR TBV since Green Bank acquisition, 1/1/19 $1.44 Billion market cap Financial metrics as of September 30, 2022; market cap as of October 10, 2022. Veritex Holdings, Inc. Franchise Overview

4 Strong, Resilient Texas Market Our platform is powered by the Texas markets we serve Source: Bureau of Labor Statistics; Dallas Chamber of Commerce; Greater Houston Partnership; YTexas; Houston.org; S&P Global Market Intelligence

5 Third Quarter 2022 Highlights Financial Highlights ($M) Q3 2022 Q2 2022 Q3 2021 Net Interest Income $101.0 $84.5 $71.3 Non-Interest Revenue 13.0 10.4 15.6 Total Revenue 114.0 94.9 86.9 Non-Interest Expense 51.0 48.2 41.3 PTPP 63.0 46.7 45.6 Provision for Credit Losses 7.5 9.0 (0.4) Income Tax Expense 12.2 8.1 9.2 Net Income 43.3 29.6 36.8 Key Performance Metrics Diluted EPS / Operating ($) 0.79 / 0.80 0.54 / 0.55 0.73 / 0.70 BVPS / TBVPS ($) 26.15 / 17.91 26.50 / 18.20 26.09 / 17.53 ROAA / Operating (%) 1.50 / 1.51 1.11 / 1.12 1.56 / 1.48 Efficiency Ratio / Operating (%) 44.71 / 44.37 50.76 / 50.45 47.55 / 48.51 ROATCE / Operating ROATCE (%) 17.82 / 17.94 12.68 / 12.77 17.72 /16.92 Growth Momentum ◊ Total loans held for investment (“LHI”), excluding mortgage warehouse (“MW”) and Paycheck Protection Program (“PPP”) loans, increased $594.6 million, or 30.0% annualized ◊ Total deposits grew $230.7 million, or 10.8% annualized Strong Balance Sheet ◊ Total capital of $1.4 billion; up $44 million in 3Q22 ◊ Return on average tangible common equity increased to 17.8% in 3Q22 compared to 12.7% in 2Q22 ◊ Non-performing assets (“NPAs”) to total assets decreased to 0.26%, or 14 bps, from 2Q22 ◊ Net charge-offs to average loans outstanding of 3 bp during 3Q22 and 10 bps for 2022 year to date ◊ Declared a $0.20 quarterly dividend ◊ Common stock offering completed on March 3, 2022 providing net proceeds of ~$153.8 million and improving regulatory capital levels Profitability ◊ Operating earnings of $43.6 million, or $0.80 per diluted share ◊ PTPP ROAA of 2.20% ◊ Net interest margin increased to 3.77%, up 35 bps ◊ Balance sheet positioning and growth initiatives drove net interest income up 19.6% quarter over quarter as interest rates continue to rise Record quarterly dollar earnings

6 Key Financial Metrics 50.8% 48.5% 47.6% 52.1% 50.5% 44.4% 3Q21 4Q21 1Q22 2Q22 3Q22 Reported Operating $17.53 $17.49 $18.51 $18.20 $17.91 3Q21 4Q21 1Q22 2Q22 3Q22 17.7% 20.1% 15.4% 12.7% 17.8% 3Q21 4Q21 1Q22 2Q22 3Q22 ROATCE Operating ROATCE ($ in millions) $74.0 $50.1 $48.0 $45.0 $30.6 0.77% 0.51% 0.46% 0.40% 0.26% 0.0% 0.1% 0.2% 0.3% 0.4% 0.5% 0.6% 0.7% 0.8% 0.9% 3Q21 4Q21 1Q22 2Q22 3Q22 NPAs NPAs/Total Assets11 11 1 47.6% 20.5% 16.9% 16.1% 47.55% 12.8% 48.5% $0.73 $0.82 $0.65 $0.54 $0.79 $0.70 $0.84 $0.66 $0.55 $0.80 3Q21 4Q21 1Q22 2Q22 3Q22 Diluted EPS Diluted Operating EPS 1 Please refer to the “Reconciliation of Non-GAAP Financial Measures” at the end of this presentation for a description and reconciliation of these non-GAAP financial measures 17.9% TBVPS ROATCE Diluted EPS ($) PTPP ROAA Efficiency Ratio NPAs / Total Assets $43.9 $48.6 $42.3 $47.0 1.85% 1.97% 1.71% 1.76% 2.20% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3Q21 4Q21 1Q22 2Q22 3Q22 PTPP Operating Earnings PTPP Operating ROAA $63.5 44.7% 52.8% PTPP increased 44 bps in 3Q22 to 2.20%

7 Disciplined Lending in Growing Texas Market Pandemic-Era Loan Growth ($B) Quarter over Quarter Loan Growth ($B) Growth: +7.5% Strong broad growth; CAGR 18.2%

8 Disciplined Lending in Texas $2.0 Billion $0.0 $0.2 $0.4 $0.6 $0.8 $1.0 $1.2 $1.4 $1.6 $1.8 $2.0 Jan Feb Mar Apr May Jun July Aug Sept Oct Nov Dec 2022 Unfunded 2021 Unfunded CRE ADC Construction LOC Current Unfunded (Non-Revolving) YTD Growth by Portfolio (33,771) 78,867 315,175 737,823 947,208 (23,463) 377,425 (5,435) 312,678 170,491 ($ in thousands) OOCRE NOOCRE 1-4 Family Resi Construction and land Commercial and Industrial 30-35% of 2022 Growth driven from new hires since the start of the pandemic

9 Prudent Underwriting $1.7 Billion in Production in 3Q22

10 $76.7 $73.0 $84.5 $101.0 3.26% 3.37% 3.22% 3.42% 3.77% 3.16% 3.31% 3.15% 3.37% 3.72% 3Q21 4Q21 1Q22 2Q22 3Q22 Net Interest Income ("NII") NIM Adjusted NIM (Excludes All Purchase Accounting) $71.3 $9.0 $9.2 $9.9 3Q21 4Q21 1Q22 2Q22 3Q22 Average Earning Assets $8.7 $10.6 ($ in billions) ($ in millions) 2Q22 Net Interest Income $84,480 Impact of rate changes 8,372 Impact of growth 6,574 Change due to day count 1,098 Change in earning asset mix and other 516 3Q22 Net Interest Income $101,040 22+% ($ in thousand) Average Earnings Assets Net Interest Income Rollforward Interest Rate Sensitivity Growing Net Interest Income Record NII, expanded NIM 35 bps Interest Rate Scenario Forecasted Net Interest Income ($ in millions) Percentage Change From Base Forecasted Net Interest Margin Forecasted Net Interest Margin Change from Base Up 300 bps 514.5$ 10.05% 4.66% 9.91% Up 200 bps 499.0$ 6.73% 4.52% 6.60% Up 100 bps 483.4$ 3.40% 4.38% 3.30% BASE CASE 467.5$ 0.00% 4.24% 0.00% Down 100 bps 447.3$ -4.34% 4.06% -4.25%

11 5 Quarter Trend, exc. MW and PPP Debt Investment Yields Variable and Hybrid Loans by Index Interest Rate Components of Loans and Investments 2.70% 2.74% 2.76% 2.93% 3.05% 3Q21 4Q21 1Q22 2Q22 3Q22 1 1 Excludes $2.1 million of prepayment penalty income on debt securities during 4Q21. 4.16% 4.12% 4.03% 4.16% 5.01% 0.20% 0.18% 0.17% 0.28% 0.76% 3Q21 4Q21 1Q22 2Q22 3Q22 Average Loan Yield Average Cost of Total Deposits 27% 67% 6% Loan Portfolio by Repricing Type Fixed Variable Hybrid 5 quarter investment yield trend, excluding prepayments Variable and Hybrid Loans by Rate Index Amount (in milions) % of Variable and Hyrbrid Loans 1-Month LIBOR 2,741.3$ 41.5% 12-Month LIBOR 302.5$ 4.6% SOFR 1,991.5$ 30.1% Prime Rate 1,563.2$ 23.7% Other 7.8$ 0.1% Total Variable and Hybrid Loans 6,606.3$ 100.0% Loan yield up 85 bps and deposit rates up 48 bps

12 Operating Noninterest Income/Expense ◊ Customer swap income increased 154% primarily due to increased trades executed during 3Q22 compared to 2Q22 and talent investment ◊ Other income increased $2.0 million primarily due to $2.1 million in service asset valuation adjustments taken during 3Q22 ◊ Equity method investment income decreased $2.0 million primarily due to the increase in interest rates and the corresponding impact on volume 3Q22 / 2Q22 Noninterest Income Comparison 47% 37% 22% 20% 9% 7% 4% 12% 24% 15% 2% 2Q22 3Q22 Service Charges & Fees on Deposit Accounts Loan Fees Equity Method Invst. Govt. Guaranteed Loan Income Customer Swap Income Other Gain on MLHFS $10,378 $13,021 Note: Excludes noninterest income line items in a loss position ◊ Salaries and employee benefits increased $2.8 million, or 10%, from 2Q22 primarily due to new talent hires during 3Q22, increases in lender incentives and inflation ◊ Professional and regulatory fees increased $853 thousand, or 30%, primarily due to the Company’s increase in asset size and the corresponding increase in FDIC assessment fees 56% 59% 11% 9% 9% 9% 7% 7% 6% 7% 5% 5% 5% 4% 2Q22 3Q22 Salary and Employee Benefits Other Occupancy and Equip. Data Processing Prof. Fees Amort. Of Intang. Marketing $47,858 $50,607 3Q22 / 2Q22 Noninterest Expense Comparison Efficiency ratio improved to 44.7%

13 $349.1 $106.2 $307.6 Underwriting Term Sheet Issued Prospects ($ in millions) USDA Pipeline $763M Gain on Sale % Total Volume $797.9 $667.0 $544.8 $651.5 $325.8 3Q21 4Q21 1Q22 2Q22 3Q22 3.80% 3.60% 3.45% 3.47% 3.88% 3Q21 4Q21 1Q22 2Q22 3Q22 ($ in millions) (Investment completed on July 19, 2021) Government Guaranteed and Thrive 5 Thrive Mortgage, LLC 5 Government Guaranteed SBA Pipeline $14.8 $21.5 $25.4 $23.4 In Process In Underwriting In Closing Closed in 2022$85.1M

14 ($ in billions) Deposit Growth 5 Deposit Composition 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 Interest Bearing Noninterest bearing Certificates & Time Deposits $5.8 $8.7 CAGR 20.0% 25% 42% 0% 0% 15% 27% Interest Bearing Deposits Total Deposits Cumulative change in deposit costs over cumulative change in average Fed Funds effective 5 Rate Hike Beta Trends Strong deposit management; CAGR of 20.0% Int. Bearing Rate Total Deposit Rate Fed Funds Upper Target 5 Rates and Fed Funds Target 3.25% 1.15% 0.76% 0.25% 0.26% 0.18% Spot rate for total deposits as of Sept. 30th was 1.15%

15 8.75% 9.25% 9.09% 3Q21 2Q22 3Q22 CET1 Total Capital 12.31% 11.95% 11.68% 3Q21 2Q22 3Q22 Regulatory Minimum + Capital Conservation Buffer 7.0% 10.5% - Support organic growth - Maintain strong debt ratings - Provide attractive dividend - Strategic growth, including M&A Strong Capital Supporting Balance Sheet Capital Levels TBVPS Capital Priorities 8.00% 6.00% 4.50% 10.50% 8.50% 7.00% Total Capital Tier 1 Capital CET1 Capital Minimum Capital Conservation Buffer Veritex 11.68% 9.35% 9.09% Capital in Excess of Buffer $242.5 $97.5 $135.8 ($ in millions) $0.80 $0.06 $0.05 6/30/2022 Net Income SBC Expense CDI Amort. Hedge AOCI Dividend AFS AOCI 9/30/2022 $18.20 $(0.20) $17.91 $(0.74) $(0.26) CET1 focus with target 10%

161 Past due loans exclude purchased credit deteriorated loans that are accounted for on a pooled basis and non-accrual loans. 2 Total loans excludes Loans Held for Sale, MW and PPP loans. 3Q21 4Q21 1Q22 2Q22 3Q22 0.00% 0.10% 0.20% 0.30% 30-59 Past Due 60-89 Past Due 90+ Past Due 3Q21 4Q21 1Q22 2Q22 3Q22 Originated $120 $2,921 $- $298 $62 Acquired $5,652 $9,747 $4,769 $611 $2,127 ($ in thousands) ($ in millions) $373.4 $347.7 $340.9 $330.1 $312.0 3Q21 4Q21 1Q22 2Q22 3Q22 $100 $200 $300 $400 Criticized Loans ($ in millions, excludes PCD loans) Totals: $16,508 $9,997 $16,921 $7,373 $5,352 (16.4%) $3,253 2Q22 Charge-offs Specific Impairments Change in Economic Factors Net Growth 3Q22 Improving Asset Quality and ACL Past Due Trend1 % of Total Loans2 Net Charge-offs Quarterly Criticized Loans ACL Strong credit metrics; reserves reflect uncertain economic outlook

10/25/2022 1710/25/2022 17 TRUTH | INTEGRITY | TRANSPARENCY Supplemental Information

18 Reconciliation of Non-GAAP Financial Measures

19 Reconciliation of Non-GAAP Financial Measures

20 Reconciliation of Non-GAAP Financial Measures

21 Reconciliation of Non-GAAP Financial Measures

22 Reconciliation of Non-GAAP Financial Measures

10/25/2022 2310/25/2022 23 TRUTH | INTEGRITY | TRANSPARENCY Third Quarter

Document

Exhibit 99.3

https://cdn.kscope.io/6c09379e41f8c55419ceae8c99605f57-veritexseclogoa.jpg

PRESS RELEASE

FOR IMMEDIATE RELEASE

Veritex Holdings, Inc. Declares Cash Dividend on Common Stock

Dallas, TX – October 25, 2022 – Veritex Holdings, Inc. (Nasdaq: VBTX) (“Veritex” or the “Company”), the parent holding company for Veritex Community Bank, today announced the declaration of a quarterly cash dividend of $0.20 per share on its outstanding common stock. The dividend will be paid on or after November 25, 2022 to shareholders of record as of November 11, 2022.

About Veritex Holdings, Inc.

Headquartered in Dallas, Texas, Veritex is a bank holding company that conducts banking activities through its wholly-owned subsidiary, Veritex Community Bank, with locations throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank is a Texas state chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System. For more information, visit www.veritexbank.com.

Forward Looking Statement

This press release includes “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements include statements regarding Veritex’s projected plans and objectives, including the expected payment date of its common stock dividend. Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “target,” “estimate,” “seek,” “plan,” “outlook,” “continue,” “positions,” “prospects” or “potential,” by future conditional verbs such as “will,” “would,” “should,” “could” or “may”, or by variations of such words or by similar expressions. These forward-looking statements are subject to numerous assumptions, risks and uncertainties which change over time and are beyond Veritex’s control. Forward-looking statements speak only as of the date they are made and Veritex assumes no duty to supplement, update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

Source: Veritex Holdings, Inc.

Investor Relations:

972-349-6132

investorrelations@veritexbank.com